From retail to wholesale: how bankers extend their Internet experience to financial transactions

How can transaction bankers benefit from the same convenience they enjoy as consumers when navigating the Internet, on their financial transaction data?

By André Casterman, CMO INTIX – the data management fintech

As consumer, each and everyone of us is browsing the internet and thereby using the one or the other search engine to find what we are looking for. The convenience, speed and accuracy of the freely available searching capabilities such as Google have established new behaviours and expectations, despite the soaring volumes of information being added onto and exchanged over the internet every second (e.g., see below measure of internet data flows in terabytes per second).

Internet search engines have had a major impact on internet utilisation and value since the late nineties. Those online tools have helped us all drastically increase value we gain from the Internet on a daily basis. Also, they go beyond searching. As an example, for those wishing to remain informed in a prompt and unsolicited way, the Google Alerts offer a great way to get news based on keywords, as news get published. Real-time is increasingly the name of the game.

As a banker, imagine a Google-like experience on your transactional data

Imagine being able to retrieve, trace back, track, be alerted on clients’ behaviour and financial transaction volumes.

Imagine benefiting from continuous visibility on and access to transactions whether stored in long-term archives or being processed in production systems.

Imagine you could automate the massive transaction data flows for statistical analysis and activity monitoring, and later possibly for machine learning.

Imagine you could get warnings and alerts on specific client behaviours and transactional events taking place and getting those as they occur.

Imagine you could track transactions from origination to reconciliation across dozens of interception points.

Imagine your browsing experience could expand from the internet to your front-, middle- and back-office systems.

Imagine this is now available.

And it is now when using INTIX as shown on the below figure:

Source: INTIX nv, Belgium.

INTIX Data Management technology makes it happen

Thanks to the specialised INTIX data management technology, those benefits we enjoy as consumers are now available in our banking context and environment.

The INTIX technology relies on a dedicated on-site system that is inter-connected with the bank’s proprietary infrastructure. This is achieved with real-time or batch system-to-system connections. Once this is done, bankers can start navigating through their transactions as easily and as fast as when browsing the Internet.

The below figure provides a typical Data Management set-up and shows how the dedicated data management layer interconnects with internal systems to keep track of internal data and messaging flows. The capabilities enabled from this new layer include lightspeed searching, automated reporting, dynamic dashboarding, transaction tracking as well as measuring and exception monitoring and alerting.

Source: INTIX nv, Belgium.

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